Is Cozy.co a good rent collection tool?

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Investor · Milpitas, CA · Member since 2013 · 12 posts · 12 votes
11y

I have 2 rentals using cozy for about 3 months now. The collection is free, but is rather slow, the money will be in my account on the 8-12th day of the month. There is no phone support, only email support and they are responsive.  

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  • Investor · Milpitas, CA · Member since 2013 · 12 posts · 12 votes
    11y

    I have 2 rentals using cozy for about 3 months now. The collection is free, but is rather slow, the money will be in my account on the 8-12th day of the month. There is no phone support, only email support and they are responsive.  

  • Investor · Houston, TX · Member since 2014 · 142 posts · 32 votes
    11y
    Originally posted by @Andrew Tabalujan:

    I have 2 rentals using cozy for about 3 months now. The collection is free, but is rather slow, the money will be in my account on the 8-12th day of the month. There is no phone support, only email support and they are responsive.  

     Thanks! That is a long time to clear.

  • Investor · Milpitas, CA · Member since 2013 · 12 posts · 12 votes
    11y

    It is slow. You should also check out williampaid.com. I looked at it but never used it.  

  • Real Estate Broker · East TN Loudon/Lenoir City/Tellico Village · Member since 2014 · 363 posts · 222 votes
    11y

    I have used cozy to qualify my first tenant. The online application process worked well and the applicant paying for credit report worked really well. I'm used paypal to collect the deposit but will use Chase quick pay to collect rents. Tenant wants to pay biweekly with autopay.

  • Investor · Milpitas, CA · Member since 2013 · 12 posts · 12 votes
    11y

    I concur with @Lucas Hall the cozy deposits seems to be faster now. 4-6 days are what I am seeing too. 

  • Investor · Houston, TX · Member since 2014 · 142 posts · 32 votes
    11y

    @Lucas Hall Thanks for the reply.  For some reason, I didn't get notified when you tagged me.  I will take a look again with cozy.co.  Does it keep payment history and manual entry for rent payments?

  • Knoxville, TN · Member since 2013 · 62 posts · 216 votes
    11y

    Fair enough, Curt. I am currently using Intuit Payment Network and am a little concerned that they may close up shop as did Sparkrent since they are both Intuit companies. I am looking for an alternative that is inexpensive and will be a long term solution. Thanks for the input. 

  • Mount Pleasant, SC · Member since 2015 · 7 posts · 4 votes
    11y

    Jr. C, 

    I hope you continue to have a good experience with Intuit and hope they continue to meet your needs. If something comes up there are a few of us on the market that would be more than happy with work with you. You've got it covered whatever life may present to you. :)

    Curt

  • Investor · Seattle, WA · Member since 2015 · 77 posts · 46 votes
    10y

    Let me revive this zombie thread to let the BP community know that Cozy now accepts credit cards (for a small fee), which gives tenants another (hopefully not first!) option to get their rent paid. 

    I've been happy with Cozy payments thus far - just make sure tenants set it up before the last minute.

    I did extensive research to find a good tool that integrates online applications and background checks, and got rent collection as a bonus as well. I'll echo that support has been very patient and responsive (though email only).

  • Real Estate Agent · Los Angeles, CA · Member since 2014 · 80 posts · 20 votes
    10y

    I just started using Cozy and received one tenant payment.  I was surprised that it takes a few days for the payment to actually deposit.  

  • Investor · San Mateo, CA · Member since 2014 · 32 posts · 37 votes
    10y

    I have used Cozy for a while now.  All of our tenants are on it and I dont think I want to ever go back to checks.  Upside it is free to both sides.  Improvements needed - you can not refund security deposit, deposits take 4-6 days (which is ok other then move in charges), lease changes are not as easy as they should be.  All and all it is a great experience for the landlord, but I hear Truerent.com is better and offers more features that Cozy Lacks.  

  • Investor · Yokosuka, Japan · Member since 2014 · 631 posts · 184 votes
    10y

    @Andrew 

    @Andrew Tabalujan Are you still using Cozy? I am using them to screen tenants for a vacancy and like their reports thus far and was here trying to decide if I should use them to collect rent as well. 4-6 days is not too bad. Is waiting for the deposit the only issue you've encountered with their service?

    Thank you!

  • Investor · Yokosuka, Japan · Member since 2014 · 631 posts · 184 votes
    10y

    @Thomas 

    @Thomas Mattausch Thank you so much for the revival! I started using Cozy for tenant screening after reading about the problems with SmartMove. It is my first time but I have enjoyed the ease of use, the applicant's ability to request and pay for their own reports. I've found the reports quite thorough. One I received today, came after I contacted customer support because the application was submitted 3 days ago. The credit check came and the background was in process for a long well worth waiting for time. Support responded very quickly and offered a good explanation of their process, so I waited. Then I got the report that was in fact a laundry list of crimes this prospect has committed. 

    Now that I've experienced their reports and ease of use for the applicants, I am considering them for rent collection as well. Your update was very helpful.

    Thank you.

  • Investor · Yokosuka, Japan · Member since 2014 · 631 posts · 184 votes
    10y

    @Anthony Addessi Can you elaborate a bit on the features you've heard Truerent.com has over Cozy? I am in the research phase, will look at their website but it's always so good to hear from users, even if indirectly.

    Thanks

  • Investor · Coeur d'Alene, ID · Member since 2016 · 551 posts · 218 votes
    10y

    truerent.com is a pay as you go site. I haven't used it yet but have checked the website out. It offers more features because you have to pay. It looks like it's similar to buildium.com but a lot cheaper!!

    I too would like to hear of anyone who has been using these sites.

  • Investor · Cathedral City, CA · Member since 2014 · 481 posts · 170 votes
    10y

    All these services should be free. Look out for other options. Why should you pay someone monthly?

  • Investor · Milpitas, CA · Member since 2013 · 12 posts · 12 votes
    10y

    Hi @Pyrrha Rivers 

    I have not used Cozy.co screening feature, but I am planning to have my RE broker use it when a turnover happens. I had two tenant renewals with Cozy.co already. It sounded like you had a good experience with their screening feature. So far, I have been happy with the auto rent collection, although the 4-6 days delay still exists each month.  

    Andrew

  • Investor · Yokosuka, Japan · Member since 2014 · 631 posts · 184 votes
    10y

    Yes @Andrew Tabalujan I have been pleased with the screenings provided by Cozy. The first one came in a couple of days after the application containing both he credit report and background check. The next few have come with the credit report and the background has been pending for a few days. I contacted Cozy and was pleased to receive a prompt reply explaining they looked into the specific reports I was awaiting and shared this. "To note, most background checks are completed within a few hours, some can take a few business days to process.

    A background check may take a few business days to process if a potential match comes up in a national records search. That’s because there's often manual work involved in locating the record, confirming whether it's a match, and then processing the data. Since that lookup is generally done by local records staff, we don't have control over how long that takes, but we do let you know as soon as each report is available."

    It was good to hear back from them and when I did receive the awaited reports, one was a laundry list of lawlessness so it was well worth the wait.

  • Rental Property Investor · Tampa, FL · Member since 2016 · 14 posts · 6 votes
    10y

    I have used Cozy for screening and background checks... its very fast, simple, and effective. I plan to use it for rent payments as well.

    Cozy has also introduced "express payouts" which, for a fee of $2.99, speeds up ACH payment processing time.

  • Investor · Bentonville, AR · Member since 2014 · 114 posts · 40 votes
    10y
    Originally posted by @Jeff Gates:

    Why should you pay someone monthly?

     We're now in the market for our third service provider (the first closed shop and the second is having deposit issues). I would gladly pay if it meant a more stable service.

    Kent

  • Investor · Cathedral City, CA · Member since 2014 · 481 posts · 170 votes
    10y

    I am guessing the renters get frustrated with the new on-boarding issues. Do you need to help them or can they proceed without your help?

  • Investor · Cathedral City, CA · Member since 2014 · 481 posts · 170 votes
    10y
    Originally posted by @Kent Verge:
    Originally posted by @Jeff Gates:

    Why should you pay someone monthly?

     We're now in the market for our third service provider (the first closed shop and the second is having deposit issues). I would gladly pay if it meant a more stable service.

    Kent

     I was just at a conference and these stats were communicated.

    The average start–up life span is 4yrs for companies using technology. All companies in any industry will die at a rate of 77% by year 10. 

  • Investor · Brooklyn, NY · Member since 2016 · 1 post · 0 votes
    10y

    @Curt Grob- I loved some of the things you mentioned about Rentific. I decided I would log on and create an account for personal use as a Landlord then recommend to several Landlord clients  (I am also a broker). I tried to create an account and it said that the site is on PAUSE for now. I'm glad I wasn't already using it... I can only imagine how horrible it would be to have a landlord account fully set up then not to be able to even get tenant accounts created.

    Others- anyone else have any  feedback about Cozy or other apps? I plan to create an account somewhere soon.

  • Real Estate Investor · Anchorage, AK · Member since 2013 · 12 posts · 7 votes
    9y

    Everyone still using Cozy?  Sounds like a good place to run a b/g check and collect rent.  Can the renters pay bi-monthly if they prefer?

  • Investor · San Jose, CA · Member since 2015 · 246 posts · 183 votes
    9y

    @Casey Cousins I've been using Cozy for my last two leases.  It has worked great and I like the ease of getting background checks/credit checks when it was time to turn over the rental.  I'm not sure about bimonthly payments.  If you email or tweet them, they are pretty quick to respond.

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